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PRISMEDICAL News
FOR IMMEDIATE RELEASE
PRISMEDICAL CORPORATION Closes Series A Financing and Submits 510(k) Application to the FDA
Napa, California - August 23, 2001
/PRNewswire/ -- PRISMEDICAL CORPORATION, provider of ultra-compact disposable devices that sterilize solutions and deliver therapeutic agents at the point-of-use, has received $2 million in a Series A Preferred Stock funding led by Cruttenden Partners, LLC and Cheyenne Capital. The funding will be used for the completion of regulatory approval, international joint venture agent testing, production, and fulfillment of pending military orders.
The Company also has submitted its 510(k) application to the FDA for MainStream®, a device that produces sterile purified water at the point of use.
MainStream is intended to generate sterile water:
According to the Company, this will be the first product approved by the FDA to produce sterile purified water at the point-of-use, using EPA grade drinking water. Future plans include combining MainStream with the Company's drug delivery technology to develop devices that produce a broad spectrum of fluid therapies including IV and IM drug delivery, and solutions for dialysis, nutrition, and resuscitation.
Company Overview
PRISMEDICAL CORPORATION specializes in the development of disposable devices that produce and deliver therapeutic agents and sterile solutions at the point-of-use. The patented "PRISM" technologies and know-how will provide the healthcare industry with new "point-of-use" platforms that reduce costs inherent in conventional methods and expand the reach of fluid therapies to new patient populations. Our platform technologies will deliver a broad spectrum of fluid therapies, including intravenous administration of therapeutic agents such as drugs, electrolytes and nutrients and various irrigation treatments and dialysis, to significant segments of a $13 billion market.
"PRISM" delivers a broad spectrum of fluid therapies including intravenous administration of therapeutic agents such as drugs, electrolytes and nutrients and various irrigation treatments and dialysis. Our system is comprised of two patented platform technologies: (1) a drug delivery device for a broad spectrum of drug, electrolyte or nutrient therapeutic agents, and a (2) water purification method/device for producing unit-dose volumes of sterile water. Our two platform devices can be used individually or in concert to deliver a broad spectrum of point-of-use fluid therapies.
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PRISMEDICAL CORPORATION Closes Series A Financing and Submits 510(k) Application to the FDA
Napa, California - August 23, 2001
/PRNewswire/ -- PRISMEDICAL CORPORATION, provider of ultra-compact disposable devices that sterilize solutions and deliver therapeutic agents at the point-of-use, has received $2 million in a Series A Preferred Stock funding led by Cruttenden Partners, LLC and Cheyenne Capital. The funding will be used for the completion of regulatory approval, international joint venture agent testing, production, and fulfillment of pending military orders.
The Company also has submitted its 510(k) application to the FDA for MainStream®, a device that produces sterile purified water at the point of use.
MainStream is intended to generate sterile water:
- as medical grade drinking water for people who are immuno-compromised and/or have chemical sensitivities or environmental illness;
- for cleaning and rinsing of open wounds;
- for infection control (cleaning and rinsing of surgical instruments, surgeons' or medical personnel's hands);
- as diluent for enteral, nutritional, oral vaccine or oral drug preparations,
- as diluent for infant formula;
- for other uses of sterile purified water the practitioner, clinic or customer deems appropriate.
According to the Company, this will be the first product approved by the FDA to produce sterile purified water at the point-of-use, using EPA grade drinking water. Future plans include combining MainStream with the Company's drug delivery technology to develop devices that produce a broad spectrum of fluid therapies including IV and IM drug delivery, and solutions for dialysis, nutrition, and resuscitation.
Company Overview
PRISMEDICAL CORPORATION specializes in the development of disposable devices that produce and deliver therapeutic agents and sterile solutions at the point-of-use. The patented "PRISM" technologies and know-how will provide the healthcare industry with new "point-of-use" platforms that reduce costs inherent in conventional methods and expand the reach of fluid therapies to new patient populations. Our platform technologies will deliver a broad spectrum of fluid therapies, including intravenous administration of therapeutic agents such as drugs, electrolytes and nutrients and various irrigation treatments and dialysis, to significant segments of a $13 billion market.
"PRISM" delivers a broad spectrum of fluid therapies including intravenous administration of therapeutic agents such as drugs, electrolytes and nutrients and various irrigation treatments and dialysis. Our system is comprised of two patented platform technologies: (1) a drug delivery device for a broad spectrum of drug, electrolyte or nutrient therapeutic agents, and a (2) water purification method/device for producing unit-dose volumes of sterile water. Our two platform devices can be used individually or in concert to deliver a broad spectrum of point-of-use fluid therapies.
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